Cambium Networks SEC Filings

Cambium Networks Corporation is asking shareholders to vote at its virtual 2026 annual meeting on June 25, 2026. Shareholders of record on May 15, 2026, when 29,032,896 ordinary shares were outstanding, may participate and vote online.

Items on the ballot include electing two Class III and three Class I directors, ratifying BDO USA, P.C. as auditor for 2026, and non-binding advisory votes on executive compensation and on how often to hold future say-on-pay votes. Shareholders are also asked to approve a reverse share split and related amendments to the Memorandum and Articles of Association, including authority for the board to handle fractional shares.

The company describes its controlled company status under Nasdaq rules, ongoing reliance on related governance exemptions, and its board and committee structure. It outlines 2025 director fees and executive pay, noting no 2025 bonuses or equity grants and base salaries of $500,000 for CEO Morgan Kurk, $413,700 for Senior Vice President Products Vibhu Vivek, and $337,080 for Chief Legal and HR Officer Sally Rau.

Cambium Networks Corporation reported sharply improved operating results but remains under severe financial strain. For the three months ended March 31, 2026, revenue rose to $44.6 million from $33.7 million, driven by stronger Enterprise and Point‑to‑Multi‑Point demand. Gross margin improved to 50.8%, helping shrink the operating loss to $1.2 million and net loss to $3.4 million (basic and diluted loss per share of $0.12, versus $0.42 a year earlier).

Despite this progress, the balance sheet is stressed. Cash was $5.9 million versus $11.1 million at year‑end, while current liabilities of $141.9 million exceeded total assets of $138.4 million, leaving shareholders’ deficit at $(38.6) million. The company has $21.5 million outstanding on its term loan and $45.0 million drawn on its revolving credit facility, both classified as current after covenant breaches and payment defaults. Management acknowledges “substantial doubt” about its ability to continue as a going concern and is seeking asset divestitures, new capital and accommodations from its lender. Trading in its ordinary shares was suspended on Nasdaq and moved to the OTC Experts Market under the symbol CMBMF.

Cambium Networks Corp President and CEO Kurk Morgan C S reported a tax-withholding disposition of 1,721 Ordinary Shares. The shares were withheld at a price of $0.29 per share to cover tax obligations, rather than sold in the open market. After this transaction, he directly holds 84,248 Ordinary Shares.

Cambium Networks Corporation notified the SEC that it could not file its Quarterly Report on Form 10-Q for the period ended March 31, 2026 by the prescribed due date and expects to file within the five-day extension provided by Rule 12b-25.

The company says it prioritized completing recent annual and quarterly filings and now is allocating resources to finish the March 31, 2026 Form 10-Q. The filing estimates total revenues of approximately $44.5 million for the quarter, versus $33.7 million for the same period in 2025.

Cambium Networks Corporation’s latest annual report highlights severe financial and listing challenges alongside its wireless broadband and enterprise networking business overview. The company’s ordinary shares were suspended from Nasdaq on March 27, 2026 and now trade on the OTC Expert Market under the symbol CMBMF after a Nasdaq hearings panel issued a delisting determination.

Cambium discloses repeated violations of Nasdaq listing rules, ongoing appeals, and warns there is substantial doubt about its ability to continue as a going concern. It is in default under its secured Credit Agreement after failing financial covenants and could face acceleration of debt secured by substantially all assets. Multiple material weaknesses in internal control over financial reporting led to delinquent SEC filings and increased compliance risk.

Against this backdrop, Cambium describes a global business providing fixed wireless, fiber, Wi‑Fi, switching and security gateway solutions managed through its ONE Network and cnMaestro platforms, serving service providers, enterprises, industrial users and governments.

Cambium Networks reported weaker results and serious financial stress for the quarter ended September 30, 2025. Quarterly revenue was $43.0 million, down from $44.7 million a year earlier, with a net loss of $8.5 million versus $34.5 million after prior-year impairments. For the first nine months of 2025, revenue fell to $116.1 million from $137.0 million, and net loss narrowed to $29.7 million from $67.2 million.

Cash dropped to $9.7 million from $34.9 million at December 31, 2024, while total debt remained high at $66.4 million, all classified as current. The company is in default on key covenants under its Bank of America credit facilities and stopped paying required principal and interest in June 2025, giving the lender the right to demand immediate repayment. Management concluded that these issues create substantial doubt about Cambium’s ability to continue as a going concern.

The balance sheet shows a shareholders’ deficit of $28.3 million, reflecting accumulated losses and prior asset impairments. Cambium also restated its 2024 interim financials for errors in areas such as variable consideration, credit losses, inventory, taxes, and long-lived asset impairments. In March 2026, its ordinary shares were delisted from Nasdaq and began trading on the OTC Experts Market under the symbol CMBMF.

Cambium Networks Corporation reported continued losses, liquidity pressure, and covenant violations in its latest quarter. For the three months ended June 30, 2025, revenue fell to $39.4 million from $45.2 million a year earlier, with a quarterly net loss of $9.1 million. For the first half of 2025, revenue was $73.1 million versus $92.3 million in 2024, and the net loss narrowed to $21.1 million from $32.7 million.

Cash declined to $15.8 million at June 30, 2025 from $34.9 million at year-end 2024, while total debt of $66.3 million under a term loan and revolving credit facility is classified as current due to ongoing covenant defaults. The company has stopped paying scheduled principal and interest and faces an additional 2% default interest margin.

Management states that failure to obtain waivers or refinance, combined with debt maturing on November 17, 2026, raises substantial doubt about Cambium’s ability to continue as a going concern. Shareholders’ deficit widened to $20.8 million. Subsequent to the period, Cambium’s shares were delisted from Nasdaq and moved to trading on the OTC Expert Market under the symbol CMBMF.

Cambium Networks Corporation reported a weak first quarter of 2025 with serious liquidity concerns. Revenue fell to $33.7 million from $47.1 million a year earlier, a 28.3% decline, as demand softened across fixed wireless and enterprise networking products. Despite lower sales, gross profit edged up to $14.6 million, lifting gross margin to 43.3% as product mix and cost actions improved profitability per unit.

Total operating expenses dropped to $24.2 million, narrowing the operating loss to $9.6 million from $15.6 million. Net loss improved to $12.0 million, or $0.42 per share, compared with a restated loss of $18.4 million, or $0.66 per share, in the prior-year quarter.

Cash declined to $27.8 million as of March 31, 2025, while total debt of about $67.0 million under a term loan and revolving credit facility is classified as current because Cambium is in violation of key financial covenants. The company has also stopped making certain debt payments since June 2025, giving its lender the right to demand immediate repayment. Management states there is substantial doubt about Cambium’s ability to continue as a going concern.

The balance sheet shows total liabilities of $172.4 million and a shareholders’ deficit of $13.1 million, reflecting cumulative losses and impairments. Cambium is cutting costs, reducing capital spending and pursuing financing or asset sales, but there is no assurance these efforts will succeed. Separately, the company’s ordinary shares have been delisted from The Nasdaq Global Market after it failed to meet minimum bid price, timely filing, and annual meeting requirements, and now trade on the OTC Expert Market under the symbol CMBMF.

Cambium Networks Corp Senior VP of Products Vivek Vibhu reported a small, compensation-related share adjustment. On a Form 4, he recorded a tax-withholding disposition of 1,030 Ordinary Shares at $0.10 per share, used to cover tax obligations. After this non-market transaction, he directly holds 114,459 Ordinary Shares, so the change is minor relative to his overall position.